Due to the ongoing problems in India, Jim O’Neill, the former chief economist of Goldman Sachs and creator of the BRICs – Brazil, Russia, India and China – acronym, does not believe India is not holding up to the former standards. [Guggenheim BRIC ETF to Get More BRIC Feel]

“I would exclude India from the group, as its current cyclical challenges have grown and, despite market pressures, the government seems no closer to doing the obvious things,” O’Neill said. “Some might say similar things about Russia and I could see why, but China is doing plenty of the right things and Brazil is beginning to do the same.”

WisdomTree India Earnings ETF

For more information on India, visit our India category.

Max Chen contributed to this article.